FATCA IDES Gateway Opens

Large Business & International announces the opening of the International Data Exchange Service (IDES) Gateway. Financial institutions and host country tax authorities began IDES enrollment in January 2015. All IDES enrollees may use the IDES Gateway to securely send Foreign Account Tax Compliance Act (FATCA) information reports on financial accounts held by U.S. persons. IDES will operate on all major browsers, such as Chrome and Internet Explorer, and will support application-to-application exchanges through SFTP transmission protocols. Data transmitted via IDES will be encrypted at both the file and transmission level to safeguard sensitive tax information.